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FOX Business
Oct 9, 2012 4:00pm EDT
alcoa, yum brands on deck for earnings. all of a sudden i started to see alcoa pop for a second there. >> reporter: yeah, those are off about 4% and yum brands pulling back a bit. david: coal stocks getting a big boost today, but other than that it looks red across the board. the bells are ringing on wall street. a little bit of fear factor wondering whether this is the beginning of the correction. october 9th, yes, a couple of years before october 9th we began a correction. whether this turns into one is sttll unclear, but again, we're trading to the downside as we went into the final bell, and it looks like it's trading a little lower as it kind of settles here. dow jones industrials down over 109 right now, s&p getting hit harder percentage wise, down 14.3. nasdaq getting hit the hardest of all of these four indices, 1.5 percentage points, and the russell 2000 down as well, getting hit hard, down about one and a quarter percent. liz: yeah. david's right, a lot of that is apple. the home builders, though, seeing a big drop. let's see how that impacted pkb, the building and con
CNBC
Oct 8, 2012 11:00pm EDT
alcoa. i know at times i've cursed at the prospect of a stumbling alcoa kicking off earnings season with a miserable first quarter. the number of times this company seems to have missed estimates is boundless. it makes people cringe. because it is the lone standout of the new season and not much else happens tuesday, kit be worth a day's worth of chatter. how unfair that this stumble bum set the tablo. now you may not like how alcoa does, but if it does pa bad, it is no longer alcoa's fault. they are well run. the issue isn't alcoa itself and the execution or lack thereof. the issue is that alcoa sells into pretty much every market that matters. it's a far better tell for things, for example, that are now totally politicized labor report. consider what markets alcoa plays in. first, alcoa is the dominant raw materials supplier to the airspace industry that employees millions of people globally. an astounding one million screws go into each boeing 787 or airbus 380. all planes use aluminum. i don't know how you're going to get a better read on this industry. let's not forget that alc
NBC
Oct 9, 2012 3:00am PDT
beat the urge of what we get tomorrow night from alcoa. i know i talked last night about alcoa and their miserable first quarter. because it is the loan standout of the season, it can be a backdrop for at least a day's worth of chatter. how unfair that this stumble bum set the tabloid. now you may not like how alcoa does, but if it's bad, it's no longer alcoa's fault. that way i will cause my own prompter of worldwide growth. consider what alcoa plays in. alcoa is the aerospace. and 1 million alcoa screws go into a 747. second aluminum is the usual material for parts of trucks. alcoa is in all of them. third construction, you need -- commercial construction uses a huge amount of -- it's commercial construction, and this is the worth of business for alcoa. let's alcoa tell us if it's for real. and we have a tremendous amount of switching. there's no really way to judge this stuff. we will get a read on one of the most important seculars that are now in place. finally aluminum, courtesy of steve jobs has become an important part of the technology food chains, that plus bottles and ca
PBS
Oct 9, 2012 6:30pm PDT
. tom's off tonight. alcoa's earnings beat analyst estimates. we'll have more in our exclusive interview with c.e.o. klaus kleinfeld. stocks tumble on the five-year anniversary of the dow and s&p's record highs. what will it take for wall street to make a comeback? and find out what daily-deal sites like living social are doing to lure holiday shoppers as we continue our week-long look at holiday retail. that and more tonight on nbr! better than expected earnings and revenues from alcoa tonight. after the closing bell, the aluminum giant said it earned three cents a share in the third quarter. analysts were expecting break- even results. revenues also topped estimates at $5.8 billion, but that was below last year's level. the company repeated its forecast that aluminum demand will double between now and 2020. alcoa is the first dow component to report earnings, and is considered a bellwether of how the economy is faring. the stock barely budged in the regular session, closing at $9.13 a share, and was up a few pennies after hours. we're happy to have with us now alcoa c.e.o. klaus kleinf
FOX
Oct 10, 2012 4:00am PDT
scenes of a gm factory closure. and a trader's impression on alcoa's earnings. first business starts now. you're watching first business: financial news, analysis, and today's investment ideas. good morning. it's wednesday, october 10th. i'm angela miles. in today's first look: earnings from alcoa and yum brands. first up alcoa. the aluminum company posted a loss, but still managed to top expectations. alcoa lowered its growth forcast to 6% from 7%. the company has $1.4 billion cash on hand. apparently there's a lot of money in chicken and tacos. yum brands, which owns kfc and taco bell, reported stronger-than- expected earings and raised its full-year guidance. meanwhile, tuesday was a down day on wall street. stocks and gold sold off on global economic concerns, while oil rallied. nhl talks could resume today between players and owners. the commissioner says major money issues are not on the agenda. and the cfo of best buy is leaving the company after 10 years on the job. todd horwitz of the adam mesh group joins us now, and we are off and running with earnings. alcoa reported in last
PBS
Oct 8, 2012 7:00pm PDT
kicks off tomorrow with dow component alcoa reporting its results after the bell. ahead of that, the dow fell 26 points, the nasdaq lost 23, the s&p down five points. joining us now to talk more about quarterly earnings, and the outlook for the markets: scott wren, senior equity strategist at wells fargo advisors. hi, scott, i want to start off by getting your take on quarterly earnings. looking here on this graph about what the forecast had been calling for is a drop of 2.4% in third quarter earnings year-over-year. it will be the first decline in 11 quarters. and over the last couple of weeks we have he been getting a steady stream of earnings warnings. so scott, will the numbers really be that bad? >> well, sus yeaux, you know, they could very easily be that bad. for me we're expecting more srx flat up 2%. somewhere in there. but really versus that consensus, you're not much different. so i think you know we're not climbing out of the hole any more. we don't have easy comparisons. you're at the point of the economic cycle where you know earnings comparisons are tougher and we're i
CNBC
Oct 9, 2012 5:00pm EDT
go the other way it may confuse the october 31. alcoa may put another dent in confidence. >> the number of times this company seems to miss estimate is balanced. >>> your earnings play book right now. >>> live from the nasdaq market site at new york city's times square. an unhappy anniversary for the bulls today. concerns about earnings and global growth here overblown. should we be happy because the first two earnings seem to be good? >> the one thing not priced is better earnings and a better economic environment. everybody that you talk about is doom and gloom. the economic numbers have not been that great. so certainly some of it is justified. today was a very interesting day because the whole rally from the 2009 lows up until now has been driven by this push and pull between policy and economics and/or fundamentals rchlt today we had a policy response in kmien china and economic fundamentals and today the imf chose economic fundamentals which to me is a warning sign. it is not a place you want to go in all short. it is a warning sign. >> you were actually right. you were bul
CNBC
Oct 9, 2012 4:00pm EDT
deflate what has been a good rally this year in top strategists will weigh in. alcoa moments away from kicking off the earnings season. i'll speak with chairman and ceo klaus kleinfeld in a moment. take a look at how we're finishing the day on wall street this afternoon. the dow jones industrial average at the lows of the afternoon down 110 points. volume deadly. nasdaq down 47 points. technology one of the weak spots today, down 1.5% on the nasdaq at 3,065. the s&p 500 weaker by 14, about 1%, at 441. we're moments away from the quarterly earnings due out from alcoa and yum brands. let's get today' market reaction. good to see you, guys. thanks for joining us. >> thank you. >> mike, what are you expecting out of earnings this season? >> i think we're going to have a negative quarter, maria. looks like we're down 1.21 according to the cap iq consens consensus. i think we're going to have weakness in the materials sectors. i think there's going to be a surprising strength in financials and consumer discretionary. >> i know i've asked this a million times, but is it priced into the market
FOX Business
Oct 9, 2012 3:00pm EDT
. after the closing bell, aluminum maker alcoa becomes the first major u.s. company to report third quarter results. just remember, since 2009 i think alcoa has missed estimates 72% of the time. [laughter] sandra smith, the preview. >> so it doesn't always indicate the actual earnings season ahead, but we're watching shares closely. and they are moving higher ahead that earnings report after the bell today, actually leading the dow 30 components right now, up just about eight-tenths of 1%. you can see the intraday chart there. year to date this is a stock that's gained just over five -- sorry, we just switched over -- just over 5%. analysts are expecting alcoa to break even on revenue of $5.5 billion for the quarter. many consider alcoa a bramer the for the earnings season, but there is something to keep in mind here. since 2009 when alcoa missed wall street's earnings forecast nearly 73% of the time as liz just mentioned, of the companies in the s&p 500 went on to beat profit estimates. so three-quart earth of the time they went on to have very good earnings. alcoa has been curbing
CNBC
Oct 10, 2012 4:00am EDT
. the aluminum maker reported better than expected results, sales, though, fell 9%, and alcoa is cutting its global demand forecast for this year, citing the slowdown in china, which the ceo discussed on cnbc's "closing bell" yesterday. >> i'm relatively optimistic on china. the chinese leadership understands that the economy is slowing down. they've put a program in place, which is starting now. it's probably going to take to the end of the fourth quarter to have this visibly in the economic activity, but other than that, i'm pretty optimistic. >> let's take a quick look at how alcoa shares are responding, down 1.3%. this raises a question, is he still optimistic? but shares are lower. what's your impression? >> i think alcoa is usually kicking off on the season, and although it's really a resource type company and the wider framework of banking is still to come, but it's interesting, the 9% fall in sales. it's an indication of both the contraction we're seeing in growth for the global economy, which is expressed in those figures, and the only way companies continue to meet expe
CNBC
Oct 9, 2012 4:00am EDT
reception in greece as protesters take to the streets. >>> and alcoa kicks off what could be subdued u.s. earnings season. third quarter results of the s&p 500 are expected to drop overall snapping 11 quarters of gains. >>> okay. good to have you back. >> good to be back. you were out, i was out, it was -- >> and i was a little worried about what you were up to, so i do admit, i had you followed. and my man, he sent me back this photograph. >> oh, no. >> that is you with the goggles, right? >> yes, that's me with the goggles. >> what's going on? >> that's my sister at the end there. so i was back at my alma mater in virginia for my college reunion. part of that was -- >> to dress up and pretend you played lacrosse. why are you the only one with goggles? >> that's actually a relatively new addition to the game. when i started playing, we didn't wear goggles. but you get hit in the head a lot. supposed to be a noncontact sport. but because it was supposed to be noncontact sport, you didn't wear protective gear. but you get a little riled up, there's things flying. >> you have all thatt
FOX Business
Oct 9, 2012 1:00pm EDT
petallides. stocks waiting for alcoa to kick off earnings season. nicole: that is right, earnings season begins today after the bell. beginning with alcoa on the 4:00 p.m. show, so we will bring it out. selling across the board. dow jones industrial average down 91 points, so about 15 points off of the lows of the day. the selling going on, nasdaq composite down 1.4%, we talk a lot about apple under some pressure. we saw some business reports coming, sentiment from those have fallen again for the fourth time in five months and also not saying thing to add staff or make capital investments at this time. also european picture here where the euro is lower and the dollar stronger. ibm, a look at some of the others, johnson & johnson downgraded to a cell from a neutral. those are the key names and those are all dow components. back to you. lori: figure for the update, nicole. angela merkel making her first trip to greece since the debt crisis began to show her support for the continued participation in the euro zone. while it is a vote of confiden confidence, her arrival was marred by tens of
CNBC
Oct 8, 2012 5:00pm EDT
economic numbers. now alcoa out tomorrow but i think later in the week, we start to hear from some of these banks. look at the volatility index, yes pushing up on that 50-day moving average, pulling back off it again today and remain closer and closer towards that 15 level. you look at the financials right now, today, again, they trade pretty nice, actually, market off the financials are basically flat once again so i'm looking at these financials, looking for any kind of catalyst to push us to the upside and keep an eye on some of the regional banks like a fifth third, a lot of option activity today. i continue to look at these as they are tied to the mortgage world as well. >> going to be earnings, the bears might have a field day with the statistic what is to expect for earnings season because wall street is, in fact, setting up for the worst earning season since 2009. preannouncements the most negative we have seen in about 11 years. >> think what we had coming into it we had fedex, we had caterpillar, intel a couple of weeks ago, all the big boys across a couple important sectors
FOX Business
Oct 10, 2012 3:00pm EDT
, alcoa, and caterpillar. facing a broad-based selloff. across the board, we will keep our eye on those stocks for you. no surprise to see alcoa drop in today. kicking off earnings after the bell yesterday beat estimates but cut global demand, that outlook anyway and that stock is suffering. yum much better after his report, shares are rallying this morning. apple flipping two days of losses, in green territory. shares are up as well expecting a smaller version of the popular ipad coming next week. of course we will be covering it for you on fox business. traders on the new york stock exchange, cme group and the nymex. not even sure what to call this report today out of the fed. >> neutral and unexciting, that is what we got. the facts and the data we're getting, the market trending based upon third-quarter earnings pretty much telegraphed into the market. quite interesting to me how we drifted lower since september 13 when they came out, and we continued to trend downward. what we are seeing is there is now the market reversed from where we used to trade, now we're looking at fundament
FOX Business
Oct 9, 2012 11:00am EDT
on 4:00 p.m. show, focusing on alcoa, dow component. first to report here in kick off earnings season. back to you. dagen: thank you. connell: hackers claiming to have ties to islamic terror groups threatening to attack websites of some of the largest financial companies in our country. dagen: adam shapiro joins us with the whole story. adam: we saw this story when there were cyberattacks against bank of america and jpmorgan chase. now this is a posting that appeared on a place where hackers tend to put what they are up to and what they intend to do. this one comes from a group that claims to be cyber fighters. they claim to be protesting and quote insulting film. you know what that's a reference to. now they are saying they are going to attack sun trust through a disruption of services denial -- denial of services. but sun trust seems to be up and running no problem. also targeting regions financial, capital one -- excuse me, capital one would be it today. sun trust wednesday. and regions financial on thursday. right now capital one no problems. you can still get to sun trust
CNBC
Oct 10, 2012 3:00pm EDT
down from the get go this morning. didn't help with alcoa's earnings last night. all kinds of other influences pushing it south. we're down 125 right now at 13,348. a decline of almost 1%. the nasdaq, which has been the lagger lately, is not so today. down less than .5% or 14 points at 3,505. the s&p is down 8-plus. september, as you know, may be historically the worst month for stocks. if you know your market history, you know october is not far behind, accounting for three of the worst ten months 1929, 1987, each of which had market crashes, and then there was 2008 at the height of the financial crisis. we're wondering whether this october will be a bad one as well. >> look at some of those declines from the worst months in the past. we're going pose that question in today's "closing bell" exchange. tim friedman of elevation, rob of the jensen quality growth fund along with rick santelli. so all three major averages down for the month. what do you think? is this going to be another scary month for stocks? what do you think, tim? >> i don't necessarily think it's going to be a terr
CNBC
Oct 9, 2012 3:00pm EDT
about an hour when dow component alcoa reports its results after the bell. coming up, ceoklaus kleinfeld talks with maria about the global economy. we'll also be the first to have yum brand results coming up. another key indicator of where this economy and market may be headed. here's where we stand now. a selloff this morning with the dow down 79 points. just kind of bumping along the bottom of the day, now at 13,506. the nasdaq is down 37 points. all these charts will look similar today. 1.2% down on the nasdaq. the s&p is down nine points at 1446. >> it's not a very happy anniversary today for the dow's all-time high. it was five years ago today the dow and s&p 500 hit their all-time closing highs. right now the dow is about 600 points away from that high-water mark. for the year, stocks are still up a solid 15%. why does it feel like it's the most hated bull market in recent memory? the numbers show that main street investors are not on the ride. they have been pulling money out of the stock mutual funds 15 of the last 16 months, putting cash into so-called safer assets, bill. we kno
PBS
Oct 10, 2012 4:30pm PDT
is. >> susie: all right. those alcoa earnings that came out last night, and its outlook for international growth weighed on the markets today. what's going to be the next big moment for the markets? is it going to be j. p. morgan on friday, what do you think? >> well, j. p. morgan is important, but the way i would view this is a mosaic that's being created every day, and what you want to see, more important than the earnings, is what companies say about the going forward outlook. do they see the world growing in 2013? what is their outlook for fourth quarter for the holiday season? and i think the market is going to react to the incoming data and it going to be very hard to forecast. but i think at the end of it, it's going to be good enough to prevent a collapse had the market, but not good enough to prevent a, to create a major gain. so i wouldn't be surprised at the end of the year to see the averages where they are today, but go a little bit lower between now and then, and then rally afterwards. and of course you have the presidential election sitting right there in the
CBS
Oct 10, 2012 4:00am PDT
is under way with alcoa reporting its third quarter result. the aluminum maker beat analysts estimates but still recorded a $143 million loss. alcoa cited china's economic slow down as a reason for lowering its estimate for aluminum production for the rest the year. alcoa released its report after the market closed. the dow lost 110 points while the nasdaq was down 47. just in time for the holidays, walmart will begin testing a same day delivery service. customers in select cities who buy popular items online will have them at their door step that day. walmart is trying to compete with amazon.com which is also testing same day delivery. speaking of the holidays, neiman marcus is out with its christmas catalog. this year's fantasy gift includes a walk on role in the musical "annie." that's $30,000. a $354,000 sports car that comes in red. and just for over a million bucks his and her diamond encrusted watches. and also a trip to paris. i know what you should get for us. >> you would pick the most expensive thing on the list. i want the car. i like big expensive cars. 75 more s
FOX
Oct 9, 2012 4:00am PDT
the close from alcoa for a gauge on corporate america. plus, german chancellor angela merkel ventures to greece, where she will likely be met by a sea of angry people. yesterday in the u.s.: a stock slide on china. stocks and commodies all fell on continued concerns of a slowdown in the chinese economy. and in m&a, principal financial is said to be ready to buy a chilean pension managing company for $1.5 billion. mark sebastian of option pit mentoring joins us now. will some eyes be on europe today mark? > > i think europe's interesting. i think everybody is waiting for the spanish regional elections on october 21st to see if after that they ask for the bailout. we've seen some real strength in the euro. i'm not sure that can last if spain asks for a bailout, and i think we're running into some technical highs on the currency. expect to see the euro drop a little bit here. > > here in the united states a lot of people are concerned about alcoa's earnings, which come out after the close and kick off the earnings parade. > > earnings cycles the last couple of cycles have been "expect th
FOX Business
Oct 8, 2012 4:00pm EDT
little economic news. we do have alcoa, and i think that could lead the market, but don't expect a lot of volume this week. and we could kind of creep down. now, i think earnings season is going to end up being really good relative to expectations. i think earnings season is what's going to pop us to that 1500 level. but, you know, today is not a really bright day for the tech sector or the overall market as a whole. liz: well, tom lee of jpmorgan was here in the last half hour saying, you know what? 1495. two optimists right here. we'll take it. thank you so much, mark. mark intats chan. we're going to come back to mark when the s&p futures close in about six minutes, so stay tuned for that. let's get to our street fight now, david. we've got a bull and a bear. outright bull, outright bear. bill stone, pnc chief investment strategist is our bull, and for the bears we have lance roberts, straight talk adviser. lance is already cracking up. he's like, i'm taking on this guy big time. [laughter] so let me get some perspective first, bill. you're an optimist, and you believe that earnings wi
CNBC
Oct 9, 2012 9:00am EDT
gets the season kicked off today with alcoa. a global labor report because it does matter when you're looking at what the economy is going to do. >> one of the things alcoa has been able to do, particularly with the ceo, is take aluminum and replace a lot of other different metals, whether it be steel in cars because it's much lighter and therefore you use less gasoline. airplanes because again it produces the gasoline use. by the way, it does construct electricity, maybe not as sufficiently in copper but it is used in china. when you look at a can, you know it is recycled over and over again. the skin of an apple ipad, i mean, aluminum has become the fundament. aluminum has been hit by football hedge funds and we have chinese people producing huge amounts of aluminum. if they would close that and let alcoa come in, then you would see a much better number from alcoa. i'm urning people not to look at the earnings per share. that is not going to be -- what you need to do when look at alcoa is look at the individual forecast that he makes. when you see him as a man of his word, th
NBC
Oct 6, 2012 3:00am EDT
by china first, alcoa, the old aluminum corporation of america and on tuesday afternoon, and i think that while the company is operating surprisingly well, earnings will be hurt by high-chinese aluminum. they don't want to set down their plants, because it would layoff huge numbers of of people over there, and they are afraid to do that. alcoa sells very hot marks, aero, automobile, and gas turbines, and don't forget because of its recycling qualities they work in cans. and they make the beautiful aluminum ipad skid. the aluminum in construction is awful. alcoa is hard pressed to get to the mid teens. where it would be if china weren't producing 5 1/2 million tons of aluminum it doesn't need. we'll also hear from yum brands. it's as american as kentucky fried chicken. judging by the slowdown in nike shoe sales, the colonel probably didn't sell a lot of chicken. kfc doesn't taste like a nike sneaker, but it's about people's moods. i bet it isn't bad. i like yum in the lower 60s. wednesday morning, earnings from cost come they got me thinking i'm too negative about the stock, but
FOX Business
Oct 8, 2012 1:00pm EDT
the futures? >> alcoa first. then we will go to the lineup. a couple of the big banks out early. wells, jpmorgan chase -- it looks to us as if we are talking about $25 a quarter, give or take a few pennies out of the s&p 500 index. that will be relatively flat. maybe in total, a few pennies better. that is $100 a year. operating earnings from the s&p in an environment where the long-term u.s. government reference riskless rate is under 2%. that is a bargain. melissa: i was interested to see the latest trading volumes. you are talking about the average investor walking away. in august, it was down 37%. that is year over year. that is compared to last august. when we see that the markets are up 9% for the year, i wonder if the individual investor is walking away from returns? >> i think so, melissa. the investing class is still undergoing dramatic shock and recovery from it. that is why all of these bond flows continue to go into funds and those fund managers have to go by treasuries at 1.6-1.7 because they have to do something to put it to work. if you believe that interest rates
MSNBC
Oct 10, 2012 9:00am EDT
from alcoa. alcoa is actually bringing down it's global expectations, it's global consumption expect tastes for aluminum saying in china they're looking for 6% growth. that is right in line with what we have been hearing with several other companies that say they have been seeing a slowdown as well. kfc and pizza hut are big brajds as well. >> we're just getting more dribs and drabs of data and jumping on every bit of information that we get. but some of those concerns really echoed by alcoa last night. >> if past is pro log, then what can we expect tomorrow night. we're going to take a look at the debate styles of vice president biden and congressman ryan. >>> when biden was debating for hiss approximatal k578 pain, ryan was in -- >> why is it that joe biden is the first in his family ever to go to a yooirlt. why is out that my wife that's sitting out there in the audience is the first in her family to ever go to college? is it because our fathers and mothers were not briblgt. no, it's not because they weren't as smarlt, it's not because they didn't work as hard, it's because they d
FOX Business
Oct 8, 2012 3:00pm EDT
very much. we are watching earnings closely. it officially kicks off tomorrow with alcoa. closing. [opening bell ringing] and 29 minutes. shares of the company renewable energy group. more than 40% over the past year. the company announced it will not post a profit. what happened? what is the hope for this company? burning agricultural inedible products into real fuel. we had the company ceo and president, dan oh in a fox business exclusive. plus, we will ask him about the new regulations that he says could help his business. he is coming right up. stay tuned. ♪ sometimes investing opportunities are hard to spot. you have to dig a little. fidelity's etf market tracker shows you the big picture on how different asset classes are performing, and it lets you go in for a closer look at areas within a class or sector that may be bucking a larger trend. i'm stephen hett of fidelity investments. the etf market tracker is one more innovative reason serious investors are choosing fidelity. get 200 free trades today and explore your next investing idea. >> i'm robert gray with your fox bu
FOX Business
Oct 9, 2012 9:20am EDT
. well, earnings season kicks off with alcoa reporting after the bell, but there's some dire predictions out there saying this could be a very bad season for company profits and what does it mean for the presidential race? joining us is money manager and market watcher kyle harrington. the earnings season before the november election, how could that impact the president? >> oh, i think it impacts them in a very negative way. i think that gas prices will be on the top of the battle here in terms of affecting him in a negative way, but i think right in there is earnings and how they look. i mean, alcoa today. costco tomorrow. levi strauss tomorrow. some big companies going to report some earnings and we're going to see exactly how they fared in the last quarter and all of those things together, charles, can be taunt mount to see here how the president shapes up. >> you know, one of the things i found interesting in the last year or so, some of these companies coming out. particularly the ceo for caterpillar, who's come out with statements that have been directly aimed at the wh
CNBC
Oct 10, 2012 6:00pm EDT
same time we heard from alcoa. while the company delivered on the actual earnings note, the top of the number you read, it also took the growth rate down. i didn't see the negatives that others did here because aerospace and others were good while construction was bad. nothing really new. and while china was indeed weaker, alcoa is talking about a very strong rebound in china for 2013. no matter what i think, though, people chose not to hear the point of views and alcoa kicked a field goal for the bears. so now we have the new score. it's bears 3, bulls 0. or minus 3 for purposes of the tote board. the news kept coming last night as we heard from chevron in the mid quarter update. the giant oil company totally imploded on the headline basis with a real one of those substantially worse than expected screamer. even as i thought that the story is pretty much expected by those who actually follow the company closely, as i do, having just been selling some chevron for action alerts trust, my charitable trust. somehow the old facts, a hurricane and refinery in california hurt the quarter wer
CNBC
Oct 10, 2012 6:00am EDT
kernen. joe mentioned earnings reports last night from alcoa and yum. costco already out this morning with better than expected results. there's also news expected on chevron, fedex, toyota, microsoft, and best buy among others. we will have all those stories covered. plus, housing is going to be in focus today. it is a key component to the u.s. economic recovery. our guest host this morning understands this well. richard lefrak will be joining us in the next hour. also, we are continuing our week long series, what's working now. dan fuss is going to talk to us about where he's making money in the fixed income world right now. he's got a great record. i believe it's better than 10% over the last 20 years that he's been averaging. also it was a tweet heard around the world. jack welch questioning the jobs report last friday. today he is using a few more than 140 characters to explain. we're going to talk about his op ed. at 8:00 a.m., jack will be calling into the show to talk about things. all of that coming up. on the lighter side of things, we'll be talking sports. in baseba
PBS
Oct 5, 2012 1:00am PDT
season unofficially begins on tuesday when alcoa reports its results. and there were buyers today ahead of that news. it was one of the biggest percentage gainers of the dow, moving up 3.3%. the stock shrugged off an analyst at j.p. morgan cutting earnings estimates for alcoa. the analyst pointed to weaker aluminum prices during the quarter. meantime, steel maker u.s. steel saw a small rebound in its share price, up 4.4%. but it's been a tough year for shareholders as the steel business has been hit by price cuts and weaker demand. u.s. steel is down 25% this year. global cement mixer cemex did something it hasn't done since early 2009-- it is talking publicly about its financial future, expecting sales to show a small increase in the third quarter. as a building supply company, cemex was hit hard during the credit crunch. but shares have been rallying, hitting a 52-week high with today's 4.8% rally. the financial forecast came thanks to cemex selling bonds, marking its return to the corporate debt market. the tech sector was among the weakest areas of the market. software maker i
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